Maravai LifeSciences (NASDAQ:MRVI – Get Rating) had its target price reduced by analysts at The Goldman Sachs Group from $18.00 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective indicates a potential upside of 14.04% from the stock's current price.
MRVI has been the topic of a number of other reports. Royal Bank of Canada assumed coverage on shares of Maravai LifeSciences in a research report on Tuesday, December 6th. They set an "outperform" rating and a $22.00 target price on the stock. Morgan Stanley lowered their target price on Maravai LifeSciences from $35.00 to $32.00 and set an "overweight" rating for the company in a research note on Friday, November 4th. Robert W. Baird cut their price target on Maravai LifeSciences from $34.00 to $25.00 in a research note on Thursday, November 3rd. UBS Group lowered Maravai LifeSciences from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $20.00 to $16.00 in a research report on Thursday, January 5th. Finally, Bank of America downgraded shares of Maravai LifeSciences from a "buy" rating to a "neutral" rating and cut their target price for the company from $32.00 to $17.00 in a research report on Thursday, November 3rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.00.
Get Maravai LifeSciences alerts:Maravai LifeSciences Stock Up 1.9 %
Shares of NASDAQ MRVI opened at $14.03 on Tuesday. Maravai LifeSciences has a 52-week low of $12.16 and a 52-week high of $41.82. The company has a debt-to-equity ratio of 0.62, a quick ratio of 6.68 and a current ratio of 7.22. The business has a fifty day moving average of $14.06 and a two-hundred day moving average of $19.80. The stock has a market cap of $3.58 billion, a PE ratio of 8.03 and a beta of -0.25.
Maravai LifeSciences (NASDAQ:MRVI – Get Rating) last announced its earnings results on Wednesday, November 2nd. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $191.26 million during the quarter, compared to analyst estimates of $193.83 million. Maravai LifeSciences had a return on equity of 69.19% and a net margin of 26.29%. As a group, equities research analysts expect that Maravai LifeSciences will post 1.79 earnings per share for the current fiscal year.Institutional Investors Weigh In On Maravai LifeSciences
Several large investors have recently bought and sold shares of MRVI. Massachusetts Financial Services Co. MA grew its holdings in shares of Maravai LifeSciences by 41.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,691,171 shares of the company's stock valued at $360,556,000 after buying an additional 3,726,068 shares during the period. Thrivent Financial for Lutherans bought a new stake in shares of Maravai LifeSciences in the third quarter worth about $65,350,000. Marshall Wace LLP lifted its holdings in shares of Maravai LifeSciences by 285.8% during the 3rd quarter. Marshall Wace LLP now owns 2,077,036 shares of the company's stock valued at $53,030,000 after purchasing an additional 1,538,680 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Maravai LifeSciences by 105.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,875,000 shares of the company's stock valued at $53,269,000 after purchasing an additional 961,800 shares during the period. Finally, Artemis Investment Management LLP increased its stake in Maravai LifeSciences by 69.9% during the 2nd quarter. Artemis Investment Management LLP now owns 2,234,566 shares of the company's stock worth $63,590,000 after purchasing an additional 918,958 shares in the last quarter. Institutional investors own 48.67% of the company's stock.
Maravai LifeSciences Company Profile
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Maravai LifeSciences Holdings, Inc, a life sciences company, provides products to enable the development of drug therapies, diagnostics, novel vaccines, and support research on human diseases in the United States and internationally. The company's products address the key phases of biopharmaceutical development and include nucleic acids for diagnostic and therapeutic applications, antibody-based products to detect impurities during the production of biopharmaceutical products, and products to detect the expression of proteins in tissues of various species.
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